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tv   The Willis Report  FOX Business  January 21, 2014 6:00pm-7:01pm EST

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we will be surprised to see where they all are. i smile at 5:00 p.m. eastern time. in the meantime, have a great and prooperous slowly evening. "the willis report" is coming up next. ♪ ♪ gerri: tonight on "the willis report." hello, everyone i am gerri willis. a winter storm brings travel chaos many parts of the country. >> it is freezing and it's awful. gerri: and will target pull the plug on new technologies to better protect consumers? and the government takes on education standards of common quarter. >> are children who are testing in this percentile are coming home with terrible grades on their report cards. gerri: we are watching out for you tonight on "the willis report."
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♪ ♪ ♪ gerri: another arctic winter blast. the potential of more than a foot of snow is coming the mid-atlantic and northeast. thousands closed government offices in washington and that is only the beginning. janice dean joins me now with the latest from the weather center. reporter: it seems like groundhog day. every other week we are talking about another -underscore in an arctic blast. this storm is different because it has dropped over 2 inches of snow in washington dc, which is some most so they have seen in two years. you are getting in on the snow right now in boston. six to 12 hours, we will continue to see snow and wind gusts 30 to 40 miles per hour. taking a look is 80 degrees in philadelphia with snow, heavy
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snow been reported in new york and light snow for washington dc. the temperature will continue to drop overnight tonight. wind gusts already 20 to 30 miles per hour. any snow that is on the ground is going to cause whiteout conditions. blizzard conditions into the overnight and through tomorrow. there is your forecast. still looking at the heavy snow for the next several hours. philadelphia, new york. still into long island. upwards of 14 inches, coastal massachusetts and take a look at the temperature is dropping. single digits by 9:00 a.m. on wednesday with wind chills below zero. dangerous temperatures and there is the latest snowfall. ten to 15 inches near coastal massachusetts. as i mentioned long island in towards central new jersey including philadelphia. that is our jackpot. and then lesser amounts the more
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interior that you go. it is a coastal event. it will remain that way. it will feel like minus 10 to minus 30 for all of these cities as far south as north carolina. this is 7:00 p.m. on tuesday. single digits below zero. heading into the overnight minus 25 and 30 miles per hour. even though we will have snow for children to play in, they cannot be outdoorr for a long period of time. and the lows tonight are spreading across the great lakes and the upper midwest. these are air temperatures and not the windchill. frigid towards the gulf coast and on wednesday night we have another arctic blast moving into the upper midwest. it will spread to the south and east and this will be ongoing. the storm will be out of here by tomorrow afternoon. we will have delays and cancellations and then another arctic blast.
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it's just never ending. gerri: the beat goes on. janice dean, think is so much for coming on and telling us about it. well, the weather swimming the airline industry, airlines have canceled nearly 3000 flights today and more than 1000 have already been canceled for tomorrow. with oneness the executive editor for smarter travel.com. what is the latest on flights? >> there are several thousands of flights canceled and there will be a lot more in the next couple of days. flights will be delayed and so you really need to contact your airlines before going to the airport. if you're stranded you will have limited chances when you are there. gerri: you can try to find out ahead of time, that doesn't always work. >> these days airlines will will
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preemptively canceled flights. they don't want to go into the airport. they don't want to create chaos. so it's in your best interest to take responsibility. contact the airline and find out if your flight is canceled. if it is, a lot of airlines are issuing change fee waivers which means he won't be penalized for changing your flight. you can also always rebuffed. sometimes their long times when you will be waiting on the phone. credible, and on the phone. try all avenues until you can get confirmed. gerri: let's take a look at that map out there. this will tell you where the worst flight delays are. little dots all over the country. can you talk to us about why they are so preemptive now? we have new rules about how long pilots can be on the job. as does that have anything to do with it? >> it probably has a little bit of effect. they have been preparing for it
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and i think that what typically happens is in these situations they need to really avoid getting any kind of see or canalization for keeping people on the tarmac. they don't want to have to deal with that and they don't want you to be stranded at the airport. they want people to stay home sister hotels so that they're not creating problems at the airport. gerri: how long will it take us to get back to normal? >> it took much longer with the storm we had a couple weeks ago. the weather got better but flights were still canceled and there were problems with airlines like jetblue. they weren't quite able to get up to speed. what happens is they need to reposition flight crews and it can take several days and i always recommend for people to stay at home, sign up for alerts. and hope for the best.
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gerri: i like that. thank you so much. gerri: a warning about sitting too much time at your desk. in one of our ongoing coverage of a target security breach. a new report says the company is trying to use safer credit cards but it backed off. details are coming up next. but i ys say be thman with the plan
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gerri: outrage and confusion. target thinning out the legitimate e-mail even to folks who never shop at target. americans believe this could be another scam hitting their inbox. how do you decide the real from the fake? our experts are here to weigh in on the matter. welcome to you both. chris, i will start with you. we found out that they implemented the smarter cards
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back in 2004 and they backed off. why was that? >> we had conflicting reports on why these haven't been adopted in at the time it was more expensive bill ford them to absorb the cost of the fraud than to update to this more secure card. gerri: i think that we have passed that rubicon. the latest that i see is bakers and got everything together and there may be as many as six other retailers who are going to get hit here. the costs are going to be pretty dramatic. tell us about this. why is it so important? >> if you think of your card right now. the back of your card with a magnetic strip. it contains the credit card information and that's how
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today's credit cards work. with this technology the card information would be essentially on the chip. unless you give a 10 to 10th of the company to survive, it will not unlock the card number and therefore they cannot be used without the culmination of this and it almost completely eliminates credit card fraud unless the consumer is a responsible if their pin number. gerri: so it takes a lot to violate that card. you said before that you thought it was money that was standing in the way. i have to tell you that i found out the other day that north korea uses these technologies on credit cards. we are beyond pyongyang, we are in big trouble. so why won't this go forward with the costs mounting? do think that we have a chance of getting safer technology out there? >> as he said, we have crossed that rubicon. we have gotten to the point that everyone has realized that we need to upgrade the system and
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the credit card companies have put a timeline and it's finally going to be coming to a u.s. system. gerri: look at the cost for these fraud cards. as a consumer i am outraged that we have an infrastructure problem. if the banks issue all of these cards, but the problem is you can't use them at a retailer and there have to be the readers to be able to accept this technology before the credit card issuers will be part of
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that. gerri: i am not a fan of my information floating out there to russian hackers
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♪ ♪ gerri: is sitting at your desk for hours and hours, is it just as dangerous to your health as
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smoking? according to several studies, the answer is now yes. here's how to improve your health while working. i know that you are stuck in a tunnel sooewhere. thank you for eing with us. gerri: you are a trooper. >> thank you for having me. gerri: good for you. why is it that it's so dangerous to sit down for long periods of time? >> they are calling it the new smoking and there's a number of reasons. diabetes has increased by 112% if you sit longer, and their are a number of reasons. it increases our risk of obesity in our risk of disease resistance and proteins, which is an enzyme that converts bad cholesterol into good cholesterol. gerri: how long is too long to
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set? is at the link of a football game? or what should we be worried about? >> right now most of us it for half of the hours that we are awake. it's no standard. it's not like five minutes or 20 minutes. and then it increases your disease proneness. walk around, get some movement. that is what we recommend. gerri: so what happens to your body? you mentioned a couple of things when you sit for a long period of time. but can you give me an idea of what is going on on the inside? >> first of all of obesity. that is kind of obvious. the obesity epidemic is growing. when you sit at your desk you are not burning as many calories as if you were delivering mail or a construction worker. gerri: okay, so let's say that you exercised recently, which i
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do. does that help? does that make a difference or does it matter? >> exercise does matter. but it's not just about calories. the issue is that after sitting for over one hour if you work out it is great for your calories, but it does not affect the lipoprotein that allows you throughout the day which is very important. gerri: people like to do it in the morning time. -nd anytime is good to exercise the. gerri: i understand that. thank you for coming on and we are sorry that you were stuck in traffic. >> thank you. goodbye. gerri: coming up the lack of young folks signing up for obamacare continues. and one of the most respected economists in the country joins
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the list a look at why the economy is on a down cycle. across america people are taking charge
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if your pill isn't giving you the control you need ask ur doctor about non-insulin victoza®. it's covered by most health plans. gerri: look at this, i'm never getting home tonight, well, let's talk about the economy, president obama's approval rating taking a hit as more and more americans finding themselves dissatisfied with the state of the economy. rich edson joins me with more. >> it no different for president obama gallup said that president is up side down, and has been since the summer, more americans disapprove than approve of his performance. latest poll has him down 51-40, part of the problem is a slow economic recovery.
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unemployment rate is less than 7%, some is americans dropping out of the labor force, the president's answer, is push an agenda of income equality and higher minimum came, and exten extended long-term unemployment benefits, a political scientist said this strategy can backfire. >> to move forward with another pivot, another set of let's try to create sort of less income inequality while wall street is enjoying tremendous benefits from the quantitative easing makes this a very difficult sell. >> president obama is also pushing a year of action as the white house calls it promises to sign executive orders where congress refuses to pass his agenda. >> well is there any issue where both sides come together.
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>> we have a debt ceiling negotiation, they have to come together to increase the debt ceiling, there are possible economic proposals they can put in their. perhaps long-term benefits, some other issues, perhaps trade, something that white house wants to do, respec republicans want , but a number of democrats don't want to necessarily hand over keys to a free trade agreement, saying it hurts workers. gerri: thank you, rich. >> forget the slow and sluggish recovery, our next guest said we're still stuck in a recessi recession. here is cofounder of research institute, youers cycle experts, but how is it possible we're in a recession, how is it possible?
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>> things get revised. looking at gdexpect. you have never seen that weak performance outside of a recession or right after. looking closer epicenter of recession looks like end of 2012, first quarter of 2013, where. gerri: let me -- >> it going to get revised. gerri: let me ask you another question. our viewers have a lot of sympathy for this point of view, they don't feel we're in a rip roaring economy, that is what i hear on facebook and twitter, but they don't understand that government is selling them something different. why do we have such big revisions. >> the revisions there is nothing insidious about it. gerri: you are not a conspiracy
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theorist??@ >> no, it is the maisch of the beet -- nature of the beast. last 3 recessions have been between 2 and 4 percentage points, i'm talking last 3 recessions decades of data, that is just the nature of it, they are slowly counting up what actually happened,. gerri: it takes forever. >> a lot of things that are sold, that is why it takes time to get it right, another reason i would say, let's not rush to judgment but look at the patterns, right now, looking at what is going on with the economy right now, people at the beginning of the year say we're going to take off this reach. gerri: they always do that, they do. they are more optimistic at the beginning. >> i look at -- it does not look that way with jobs and income. gerri: a couple question, average recession about 11 months postwar, we have been in a great roaring recovery for something like nearly 5 years, 4
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years and 7 months, that would seem to stretch credibility to me. because, usually you don't have recoveries that long. >> no, well, you -- we had occasions where we had long recoveries, but here, i think that recession techi technicalld in june 2009. we were in a big hole, we bounced out. but went into a new one late in 2012, into a new one, this is a part of a bigger problem. most of us are used to relatively long exansions,hat one. gerr tt is or? you sd wreoi ito ress in 21. u were ou there wha forecast. that didot seem to prove tr tru. >> we're trying to predict. in late 2011, we're saying, we think we're tipping into a recession, by end of 2011 we said we think it would start by middle of the year, and i'm
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telling you now, epicenter looks like it is endf 20 n't know techicly where it will smart, let's wait and see. gerri: so, now you say, here it is. >> i think it's there. gerri: you point to two things our viewers know too well. that is what happened with wages and jobs, no big recovery, what is going on there? >> it is -- what it boils down to is trend growth. back before lehman blew up, the economy is growing slower and slower with each expandtio expaa fundamental long-term problem that is hurting our ability to create jobs, and certainly higher paying jobs, looking at
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aggregate income, it flat. the policies here are keep interest lows to goose the economy. like putting america on sale. and even the interest sensitive sectors that are supposed to be the drivers of the economy, housing and autos. gerri: they are not pull their weight? >> they have been rolling over last year, jobs are weaker than headlines suggestion. gerri: you have to come back another time we'll talk about how we goose that job, get america moving again, get job creation, wages moving higher. >> that fro. thank you so much. >> and get home safe. >> yes. gerri: we want to know what you think, is the economy getting better or worse? log on to gerriwillis.com, vote
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on the right side of the screen. i'll show the results at the end of tonight let's show. >> time to look at stories you are business on fox business.c business.com. verizon buying cloud tv product. financial terms of deal not closed. stocks ended the day mixed with another round of earnings, individual individual and -- verizon and johnson & johnson dragged down the market. and ceo of pimco is leaving in mid march, the parent company, alliance said this part of a leadership overhaul. ee-erian will stay on the executive committee, and surveys find that ceos in the world are more confident in the global economy, pricewaterhouse coopers said that they are switching
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from survival to growth mode. they are gathering in swiss ski resort. >> our own liz claman is there we'll have live reports from davo starts tomorrow on fox business network. when we come back, why common core has become a common enemy for many parents. >> they are called young and obamacareless. with only a quarter of current enrollees under the agent was 24, is the law doomed to fail without them?
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gerri: more unintendedded consequences from obamacare, the costly prices are pushing the
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young folks away, joining me now, dr. mitchell brooks, host of health of the nation, and howard a senior fellow. what is going to happen to the system? what are the stresses placed on the system because of that. >> stresses that are really cost stresses there is not enough money with a lower number of healthy people to pay there are healthcare for older people who are sicker so premiums increase, and cost of health care goes up, insurance company come to administration say we didn't make a profit. because there has been a corridor for reinsurance. companies that cannot make the profit, then tax burden will shift then to. gerri: it all comes back to us,
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i see that. >> we'll pay the taxes. gerri: paul, this is do. comp kited -- this is complicated, federal government said you know insurance industry we'll make you whole, you will not lose money, this only guarantees what some call a bailout of the spree. >> doctor was just referring to these risk coor doors, if insurers wind up pleading red ink, government steps in with part of their losses. so, at the bottom end of the day, the taxpayer will step in and be the insurers for the insurance industry. gerri: that makes my head hurt, dr. michelle. how many young people do we need? is there and reason that we'll
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think some will sign up later? >> the first part, in order for the system to be vile, it is predicted we need 40% of ronaldies between -- enrollees between 18 and 34, right now we have 24%, we have 500,000 now, we need 8 million, you tell me what you think. gerri: that is the big open question. paul, to you. wwe have a study out that shows that economics of just do not work for young people, they can save so much money by not signing up. 5 times as costly, to sign up for obamacare. most kids they are not getting sick in all likelihood, tell me about mind set that young people come to obamacare with. >> once you go to site and look at plans you have high dede
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deductible plan, after you pay your premiums, and you have some health care expenses. you pay that no matter what, whether you are insured or not, you are better off paying the penalty for this year, not buying insurance than shelling out that money for premiums. gerri:d mitchell, a related story, target to discontinue health care insurance coverage for part-time workers beginning april 1, this the probably impact about 36,000 folks, what do you make of it, surprising? >> no. these are economic decisions made by ccrp races, what is interesting is that these are part-time workers, one wonders how that subset works into the alleged unemployment numbers, other thing to point out about the penalty, is that the irs has no enforcement authority under the law, you don't have to pay
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the penalty, they cannot take the money from you. there is no enforcement of that. gerri: well, this -- you know, the tweaks to the law, the law itself, they are confounding, to switch topics, this weekend, one of the white hat hackers was able to lift 7,000 private records in 4 minutes, what kind of ease of mind does that give the american people. >> we had continu continual tesy frocongress that the security on the echangthe exchange is just b enable. i would be more concerned about that. gerri: dr. mitchell to you, what are next steps in your view. at the end of the day people talk about how the law will fall apart on its own, can that really happen. >> depends to who we elect to
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office, and both houses of congress, look. this law is going to go ahead under the current dodg dang, ife -- administration, if one reads law carefully, the conclusion that -- in my opinion, the law was designed to drive everyone to a single payer, target is releasing people, businesses are releasing people, this is where we're going. and economically it is -- well, it is sustainableopoly iopoly of we keep raising taxes, the middle class and working class are getting hit hardest on, they are the ones for whom this plan was allegedly designed to help. >> i saw over weekend a "wall street journal" report that most of people on exchanges from surveys are from employers dropping coverage or people who had their policies canceled. gerri: these people had coverage. >> they had coverage.
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>> we could end this year with fewer people ensured privately. >> i can't get over, that none of the promises, to me that was the fundamental promise to get right at that problem of so many people with health insurance coverage, thank you. paul, and dr. brooks. >> thank you. >> that is a great question, hopefully we will, whether is approachious. still to come, my two cents more one of the most controversial issues, common core, education standards one mother tells us why she is trying to fight it stay with us if you've got copd like me... ...hey breathing's hard. know the feeling? copd includes emphysema and chronic bronchitis. spiriva is a once-daily inhaled copd maintenance treatment that helps open my obstructed airways for a full 24 hours.
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gerri: let me tell you one of the biggest controversies surrounding our education system college andp, cnor future careers, but concerns are growing, the curriculum is doing more harm than good, causing an arkansas mother to say enough is enough, with more the arkansas mother karen. welcome to the show. we have been covering this story for sometime, tell me about your objects to this standard. >> hello thank you. where do i begin, the standards are not rigorous, or college ready they are not preparing our kids for a global economy they come with very disturbing
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privacy inversions in the testing. gerri: i heard people talk 'this and my friends talk about this whose kids are in these programs and meeting the owed ceaga educt standards, it is the dumbing down of american kids. >> it really is. i think what is getting parents attention first is in math standards in particular in third and fourth great level, it seems they are bringing back some previously controversial math methods, in the third and fourth grade, that as opposed to using algorithm they teaching it in a very remedial way, using cgi in every day math. gerri: my understanding. they seem too require that the students sort of draw out and show how they solve the problem. rather than to aus conven con--e
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convent yoconyou shouldconventig math problems. >> right it is wreaking havoc at every kitchen table in america, parents have had it with this i call cave man math, it is like the children are drawing sketchings on a wall, the cgi method calls for them too draw diagrams, and there are a lot of teachers that love the cgi way of doing math, but in the delivery and cognitively inappropriate for grade and age used, this is specified in standard, they will try to come back and say, oh, you know, that is curriculum, you need to go to your district with curriculum issues, but this found in the standards. gerri: i know a lot of critics say, hey, look. the goal of this thing is that we're trying to prepare kids to compete in a global economy. that is what this program does.
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supported by bill gates, a lot of smart people, what do you say to that? >> i say it is bologna. it is bologna, i have yet to hear a proponent of common core come back and explain to us how this is rigorous. how this is college ready. how this is preparing our kids for a global economy. in high school math, they can't get calculus, they can't get trig. that not college ready. the proponents of common core use a lot of propaganda and repeat same messages and words over and over without giving parents and american has to how they are doing them. gerri: you said over and over parents have no voice, parents, you aryou are eloquent spokespe, thank you so much for coming on tonight great job. >> thank you.
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gerri: all right, well fight over common core just seems to get hotter, public education week has come out with its report card for the state, highest on the list top 5, vermont as highest graduation rate in the country, and 85%, and spends highest proportion of tax revenue on education, and number 4 is new hampshire, and number 3 new jersey, half of eighth graders are proficient in math. they are praised for reforms last year under governor christie. and number two maryland, this state scored a b, half of fourth graders proficient in reading, highest percentage in the country. and number one state with best school is massachusets. 1 and 58th graders are in advance classers, preschool
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enrollment is nearly 60%, the states with an f, mississippi, and louisiana. we'll be right back with my two cents more, and a answer to the question of the day, is the economy getting better or worse? what do you say? [ male announcer ] e n new york is open.
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now the fun begins! gerri: earlier this hour i was joined by well-known economist achuthan. do you think that the economy is getting better or worse. we asked you, log on to gerriwillis.com for on-line question every weekday. >> here are some of your e-mail,
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dave from iowa, just watched your segment on. my average collect is 650. 45 is criminal. right on. and matt from texas, obamacare was a bill to reform health insurance not health care, it is time to reform the cost of the healthcare itself. >> and here is roary from ohio. i'm glad someone is taking the administration to task for circumvents the constitution pyrowriting the -- by rewriting the obamacare law. and gene with his story. my father had canner and the doctor told us he had only a few days left, and should be in a hospice. the bill for clearance was
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$450,000. i complained to the hospital and they said not to worry since medicare covered. talk about a waste of money. gene, come on the show. we love hearing from you, send me an e-mail. and finally, if ever a show proved the incompetence of government, obamacare remains a mess, young people are not signing up, folks without coverage are not primary beneficiaries of coverage, and it goes on and on, a major government initiative in education, common core is pillary by parents and teachers alike, hard for any idea in education to attract that kind of animosity, that does. remember the stimulus, one reported economist telling us that did not work, we're already in a recession by his estimations, we would be better off with fewer directs out of
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washington and more private sector initiative guiding our economy. and that is it for tonight a willis want, thank you for joining us, we'll see you tomorrow. lou: another polar vortex bearing down on the nation, 85 million americans in path of a powerful snowstorm to dump more than a foot of snow on eastern seaboard, hi blizzard-le conditions snarling traffic already, causing flights, train delays and cancellations, tonight, former governor of virginia and his wife indicted on federal corruption charges, i am lou dobbs. good evening. second pole very vortex of the new year hitting
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